During the first two years of monetary union, the euro's weakness surprised most market participants. Explanations … empirical analysis showing that terms-of-trade and saving/investment behaviour seem to have driven the euro exchange rate over … view that towards the end of 2000, the euro was significantly undervalued ...<BR><P>Pendant les deux premières années de l …

We study the effects of short- and longer-term U.S. interest rates on risk taking in the global market for U.S. dollar …

sheet policy in the US vis-à-vis the euro area and Japan affects the supply of international US dollar loans by global banks … liquidity would be offset by an expansionary effect from a continued supply of US dollar loans by euro area and Japanese banks …. Our empirical findings support the view that the contractionary effect of US monetary normalization on global dollar …

We propose a "debt view" to explain the dominant international role of the dollar and provide broad empirical support … suggest that the dollar fits this description better than all major currencies, especially for longer horizons. The debt view … can jointly explain the fall and the rise of the dollar in international debt markets over the last two decades …

that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in … managing the euro crisis, but that in general the bank did "too little, too late" to prevent the euro area from slipping into … excessively optimistic, and that proposals featuring the central bank as the euro’s savior through even more radical employment of …